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Greece's Cash May Run Out by March

greek-parliamentBloomberg predicts that Greece is facing the risk of running out of money with the next 20 days, according to an article entitled “Greece May Run Out of Cash as Early as March,” published on February 4.
“As Greece’s creditors line up to oppose the country’s demand for a debt restructuring, Prime Minister Alexis Tsipras’s refusal to accept more bailout loans may result in a cash crunch as early as next month,” notes the article.
Furthermore, if the short-term loan limit which now stands at 15 billion euros, as set by troika, does not increase, the Greek government may run out of cash, as soon as February 25, said a Bloomberg source who has access to confidential information regarding Greece’s economic situation.
When it was clear that SYRIZA would win the national election of January 25, a large number of Greeks rushed to the banks in order to withdraw their funds. Others are refusing to make their tax payments. Therefore, Tsipras only has a limited amount of resources. The country would be able to survive for a few days and then it would have to withhold payments to the international creditors and tap into social security funds.
“By the end of March he may face existential choices: accepting a lifeline with conditions he has consistently rejected or abandoning the euro,” wrote Bloomberg.
Meanwhile, Greek Finance Minister Yanis Varoufakis is currently in Germany awaiting a meeting with his German counterpart Wolfgang Schaeuble to negotiate the austerity measures and Greece’s debt.
 

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